| Prudz_lude |
Watching CBC right now and it is official. They just declared the US is in resession. They commented on the fact that it will most likely get worse because now consumers plan on not spending money and rather save it which will only damage their stock markets further.
On the plus side, Canada's markets were up today :lol: |
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| Twigs_Dee |
YAY!!!!!!!!!!!!!!!! WOOHOO!!!!!!!!!!!!!!!!!!!!!!!!!!!! :blue: :blue: :thumbup:
Oh sorry. I meant. What a shame... The country that is in the hole most, yet most powerful military has hit the first rock on the way down....... What a shame........ :lol: NOT |
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| Prudz_lude |
I am honestly not to thrilled. The rest of the worlds markets are up right now but expect to be brought down a bit. The uneducated citizens of the US are the ones responsible. They all thought they could get rich by flipping houses and in the words of a CBC reporter "The effects of their thoughtless spending while be felt around the world."
Bush said something about starting some school to educate the citizens how those mortages work...:lol: he said he thought that the citizens would have realized how they work. |
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| Twigs_Dee |
quote:
Originally posted by Prudz_lude
Bush said something about starting some school to educate the citizens how those mortages work...:lol: he said he thought that the citizens would have realized how they work.
Bright words and idea from the man that stated Iraq had weapons of mass destruction with no actual proof. Than attacks the country after NATO forced to disassemble missles n shit. Bush is my HERO!!!!!!!!!!! :lol: :bowdown: :lol: |
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| onestepback |
| While I agree that the uneducated people are partially to blame, I would also place some of the blame on the high up, educated bankers. They are all trying to make as much money as they can, but do not really care about how they do it. |
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| onestepback |
| Also, many american investors will move some of their portfolio outside of the country, bringing a rise to our markets. Good news for us. :) |
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| midnite |
who would have thought years of bad decisions would lead to a bad result. :dunno:
all i have to say is.. Oh, Canada.. |
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| dc2696 |
| An american recession is not good for anyone espicially us. |
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| igal32 |
| when i read the title i immediately thought of Michael Scott declaring bankruptcy from the Office. but im sure the US Secretary of the Treasury wouldn't call the press and just yell "I....DECLARE....RESESSION!!!" :lol: |
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| fugumerkur |
yup, its really bad for us. I can't wait to see how this affects the parts that I mostly buy out of the usa, our dollar is going to go to crap and their prices may go up. Shipping may increase if people won't be using it as much due to "Saving" the money now.
But on the plus side, there is so much diversity in their markets and useless industry, hopefully if it lasts a few years all that shit will die.
Why do malls in the USA need 14 fucking nail salons!
( been to plenty of malls in northern California) |
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| Invalid Zero |
| Micheal Scott FTW. :lol: |
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| Prudz_lude |
quote:
Originally posted by fugumerkur
yup, its really bad for us. I can't wait to see how this affects the parts that I mostly buy out of the usa, our dollar is going to go to crap and their prices may go up. Shipping may increase if people won't be using it as much due to "Saving" the money now.
But on the plus side, there is so much diversity in their markets and useless industry, hopefully if it lasts a few years all that shit will die.
Why do malls in the USA need 14 fucking nail salons!
( been to plenty of malls in northern California)
I don't think its going to affect us "really bad" but i do think it will have a negative impact and a noticable one at that. However, the US is going to get owned by it compared to us and the rest of the world. |
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| wireless |
this is gonna fuck canada in the ass
hard
just wait a few years |
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| Twigs_Dee |
I'm high on perks. Whos fucking who in the ass? where do we sign up?! :lol:
Only way to really know if this will have a negative impact on Canada is to watch and wait..... Hopefully their dollar drops and make things cheaper for us :D :dunno: |
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| Prudz_lude |
quote:
Originally posted by wireless
this is gonna fuck canada in the ass
hard
just wait a few years
I still don't think it will. Our economy is not nearly as dependant on the US as it used to be. Their economy is much more dependant on ours and their need for our resources is still going to be there. The fact that The US citizens won't be able to buy doesn't mean other countries won't. |
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| wes_4 |
quote:
Originally posted by onestepback
While I agree that the uneducated people are partially to blame, I would also place some of the blame on the high up, educated bankers. They are all trying to make as much money as they can, but do not really care about how they do it.
C'mon Curt...wouldn't you do the same? We all know that the markets will eventually recover...wouldn't you rather be on a beach somewhere with your huge gains in your pocket while it does?? LOL!!
And the US investors bringing their money here is a good thing, but as long as the US is in recession, (them being our largest trade partner and all) we are pretty much up shit creek. ;):cool: |
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| onestepback |
quote:
Originally posted by wes_4
C'mon Curt...wouldn't you do the same? We all know that the markets will eventually recover...wouldn't you rather be on a beach somewhere with your huge gains in your pocket while it does?? LOL!!
And the US investors bringing their money here is a good thing, but as long as the US is in recession, (them being our largest trade partner and all) we are pretty much up shit creek. ;):cool:
Fair enough. haha. I could go for a beach sesh right now. Then again, not all of us sleep on fat wads of cash like you do. :P |
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| GOT BOOST |
negative,
The US is not in a recession yet.
Taking the gospel of CBC is not good advice.
Historically markets have rebounded shortly after a major decline.
Mike |
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| TheNeonEdge |
| It just seems like that because everyone is getting their Xmas visa bills and selling off parts of their portfolio to pay for an uber expensive christmas. That is why we lost almost 300 points on the tsx the other day, and I am sure that it will recover. |
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| tokes |
quote:
Originally posted by Prudz_lude
I still don't think it will. Our economy is not nearly as dependant on the US as it used to be. Their economy is much more dependant on ours and their need for our resources is still going to be there. The fact that The US citizens won't be able to buy doesn't mean other countries won't.
90% of Canada's exports go to the US. Tell me this isn't going to hurt the major manufacturing sector in the east, and fall back onto the west :rolleyes: |
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| ozzmodan |
quote:
Originally posted by Prudz_lude
I still don't think it will. Our economy is not nearly as dependant on the US as it used to be. Their economy is much more dependant on ours and their need for our resources is still going to be there. The fact that The US citizens won't be able to buy doesn't mean other countries won't.
80-90% of Canada's export is to the states, as much as Canadians might not like it, our economic health is in lockstep with the States.
quote:
Originally posted by onestepback
While I agree that the uneducated people are partially to blame, I would also place some of the blame on the high up, educated bankers. They are all trying to make as much money as they can, but do not really care about how they do it.
I agree that this was probably the root cause of most of the problem, but it was really a failure on the part of regulators to make people responsible for their unreliable debt. You cannot blame businesses & investors for trying to make money where they can, you can blame government for not keeping them inline. Unfortunately the neo-con view is to not interfere with the free market, which as we all can see now, was a giant mistake.
It was common practice a couple years ago for fly-by-night mortgage companies to give wildy creative financing to people that had no hope of ever being able to pay up. Before many of the customers could default these companies ended up selling themselves or lots of these mortgages to hedge funds who thought that getting 10% or more return on real estate financing was as good or better than the 4% AAA certified government-issued bonds. These hedge funds, who themselves are often leveraged to the nines, came up short with these mortgage lots, they were forced to sell other securities thus driving the price of aforementioned securities down.
The unfortunate thing about today's 0.75% rate cut (and others to follow), is that everyone gets bailed out, including those responsible for this mess.
Luckily Canada was smarter & still has fairly strict lending regulations that prevent the average person from assuming exorbitant amounts of unsafe debt.
Kyle |
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| 94turbocoupe |
ya ive been watching this as well from Perth, Australia, as it is the only thing on the TV it seems.....you should see how fucked the Aussie markets are right now...they just lost like 100 billion dollars yesterday alone....everyone is pulling out of the markets over here en masse.....its there biggest loss in 18 years they have said and its just getting worse.....everyone over here is all worried about the US market and are panicking here....its nuts....
Steve |
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| oldraven |
quote:
Originally posted by Prudz_lude
I am honestly not to thrilled. The rest of the worlds markets are up right now but expect to be brought down a bit. The uneducated citizens of the US are the ones responsible. They all thought they could get rich by flipping houses and in the words of a CBC reporter "The effects of their thoughtless spending while be felt around the world."
Bush said something about starting some school to educate the citizens how those mortages work...:lol: he said he thought that the citizens would have realized how they work.
Do you know how many people have been flipping houses in Calgary and Edmonton? A lot, myself included.
This is bad news. When the world's biggest Consumer slows down, the rest of the world has all of this extra product with nowhere to sell it. That means cut-backs and massive layoffs. Less money here to spend on 'stuff' and our own markets dropping. They call it the Elephant for a reason.
quote:
I don't think its going to affect us "really bad" but i do think it will have a negative impact and a noticable one at that. However, the US is going to get owned by it compared to us and the rest of the world.
If you don't think it will affect us directly, ask yourself why the world's markets were hit so hard this week. All on the expectation of a US recession. People in every continent are freaking out because their big cash making market is slowing down. If China makes it out (they rely so much on the US for exports) then we will very likely see them as the new big Consumer, as well as India, which is progressing at a severe rate. |
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| ehos |
| Nope, it's stagflation. |
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| Sunny |
quote:
Originally posted by Prudz_lude
Watching CBC right now and it is official. They just declared the US is in resession. They commented on the fact that it will most likely get worse because now consumers plan on not spending money and rather save it which will only damage their stock markets further.
On the plus side, Canada's markets were up today :lol:
Why don't you get your facts straight before you post.... The U.S. is not in a resession...... Oh but i forget YOU believe the world media, yea they are credible.... I would think i would know if we were in a resession, yea we are close but you jumped the gun,AGAIN.... |
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| oldraven |
| *sniff-sniff* Do I smell a corn tortilla? I can't see it, but I smell it. |
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| Prudz_lude |
meh i probably should have looked at the stats for our exporting to the USA :lol: Ocasionally i spit random facts out of my ass that i am pretty sure are wrong but i do it anyway. Its a forum, probably should have looked it up for this topic though :lol:
And mike, CBC is not my gosple. Just thought that comment was funny and thought i might as well post what i heard. You can't even begin to say that the US is not going to be going into resession very soon even if CBC screwed up and said the US declared it today. |
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| Prudz_lude |
quote:
Originally posted by oldraven
*sniff-sniff* Do I smell a corn tortilla? I can't see it, but I smell it.
I smell it too. Maybe its burritos? It's defineately a Mexican dish of some sort. |
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| GOT BOOST |
quote:
Originally posted by Prudz_lude
meh i probably should have looked at the stats for our exporting to the USA :lol: Ocasionally i spit random facts out of my ass that i am pretty sure are wrong but i do it anyway. Its a forum, probably should have looked it up for this topic though :lol:
And mike, CBC is not my gosple. Just thought that comment was funny and thought i might as well post what i heard. You can't even begin to say that the US is going to be going into resession very soon even if CBC screwed up and said the US declared it today.
Meh…
I am just giving you a hard time. :D
There is no doubt that the US is very close to a recession, but there have been no news releases yet to say that they are officially in one.
Mike |
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| Beerking |
Were doomed!!!!!! Quick everyone, take out all your money from the bank and stuff in under your mattress.
I stated a while back that the US was headed for a recession and after watching the stocks I am not suprised where we are. Its gonna get rough I belive, we will be affected here in Canada. All I gotta say is that the whole world can thank Mr. W! for this, stupid idiot, thanks for screwing over the world.
I smell chili sauce? |
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| oldraven |
quote:
Originally posted by Beerking
Were doomed!!!!!! Quick everyone, take out all your money from the bank and stuff in under your mattress.
Yeah, really. Way to put a hole in the bottom of a boat already taking on water. :rolleyes: |
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| Beerking |
quote:
Originally posted by oldraven
Yeah, really. Way to put a hole in the bottom of a boat already taking on water. :rolleyes:
thats the problem with internet, no one can sense sarcasm can they..sigh:( |
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| oldraven |
quote:
Originally posted by Beerking
thats the problem with internet, no one can sense sarcasm can they..sigh:(
The same can be said for understanding. ;) We're on the same page, man. I was using the same sarcasm you were.
:beer: |
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| Beerking |
quote:
Originally posted by oldraven
The same can be said for understanding. ;) We're on the same page, man. I was using the same sarcasm you were.
:beer:
HAHAHAHA, well then....I feel a little on the dumb side, but good to see we are on the same page.:thumbup: |
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| Prudz_lude |
quote:
Originally posted by Beerking
thats the problem with internet, no one can sense sarcasm can they..sigh:(
I could smell it. I also smell salsa. don't know why though. |
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| Beerking |
quote:
Originally posted by Prudz_lude
I could smell it. I also smell salsa. don't know why though.
I have a strange urge to wear a Sombrero too, ARRRRIBBBAAAA!!! |
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| Alpha Gangsta |
quote:
Originally posted by Beerking
I have a strange urge to wear a Sombrero too, ARRRRIBBBAAAA!!!
I'm not on here often and I have no idea whats going on... all I know is that theres someone on my ignore list that I didn't put there.... and I think it might be a good thing. |
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| Beerking |
quote:
Originally posted by Alpha Gangsta
I'm not on here often and I have no idea whats going on... all I know is that theres someone on my ignore list that I didn't put there.... and I think it might be a good thing.
Just take it as a favor from the great people of 780 for blocking your mind from reading useless garbage from a person named Sunny:beer: |
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| Sunny |
quote:
Originally posted by Alpha Gangsta
I'm not on here often and I have no idea whats going on... all I know is that theres someone on my ignore list that I didn't put there.... and I think it might be a good thing.
WOW taking away a persons rights with out even asking....
Intersting, I wonder who else might be interested in this, since it is a public forum and you are taking away someone's right to ignore on there own....And where did you say u live? |
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